Beltone Venture Capital collaborates with CI Venture Capital to foster MENA startups with a US$30 million fund

Beltone Venture Capital (BVC), which operates under the Egyptian firm Beltone Holding, has initiated a strategic alliance with CI Venture Capital, a venture arm under Citadel International Holdings from the UAE. Together, they have established a sizable fund specifically targeting early-stage startup growth, amounting to US$30 million.

This fund is dedicated to nurturing and accelerating the development of startups at pre-seed and seed stages, with a particular focus on those exhibiting rapid growth potential.

The collaboration between BVC and CI Venture Capital aims to catalyze the entrepreneurial landscape across the Middle East and North Africa (MENA) region. Over the past few months, the fund has been actively seeking investment opportunities, culminating in its inaugural series of investments.

A variety of startups spanning diverse sectors and countries within MENA have already benefited from the fund’s financial injections. Notable startups receiving early support include Bosta, a delivery solutions provider; Trella, a trucking marketplace; Qlub, an instant payment platform; and ariika, a lifestyle brand offering a range of comfortable home products.

The investment philosophy of the US$30 million fund prioritizes startups with a tech-driven edge, offering capital support to transformative ideas in their infancy. The strategy extends beyond initial funding; the fund is also committed to continuing backing for portfolio companies that show exceptional growth and performance.

Fadi Dahlan, the managing partner of CI Venture Capital, expressed enthusiasm for the partnership with Beltone Venture Capital.

“We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region,” stated Dahlan.

This alliance reflects a shared vision for fostering a vibrant entrepreneurial environment, enabling promising startups to flourish and redefine the technological landscape of the region.